UPDATE: Goldman Sachs Raises PT on Duke Energy to $17 (DUK)

Goldman Sachs is out with its report today on Duke Energy

, raising its price target from $16 to $17. In a note to clients, Goldman Sachs writes, "We update estimates for Duke Energy after 4Q2010 reporting to reflect (1) higher contributions from DUK's international segment, (2) a modestly lower rate base assumptions due to bonus depreciation offset slightly by lower financing, (3) slightly revised O&M outlooks, and (4) higher non-cash AFUDC earnings. We update our 2011-2014 estimates from $1.31/$1.31/$1.37/$1.45 to $1.34/$1.33/$1.41/$1.51 and increase our 12-month target price to $17 from $16, implying a negative 1% total return after incorporating a 5% dividend yield." Goldman Sachs reiterates Sell on DUK. At the time of posting, shares of DUK were trading at $18.03, down 0.50% from Thursday's close.